Healthcare Predictive Analytics Market Business Opportunities| Key Players: Allscripts, McKesson, Verisk, Cerner Corporation
Healthcare predictive analytics industry will witness a strong growth with amount of healthcare data exceeding 187 thousand petabytes in 2015. Owing to the remarkable increase in healthcare database volume, healthcare providers are investing heavily on digital technology to manage crucial information. This healthcare transformation has pushed healthcare industry towards data integration and analytics leading to high demand for healthcare predictive analytics software worldwide.
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Increasing adoption of electronic health records to better manage patient outcomes and reduce overall cost has uplifted the demand for predictive analytics industry. For instance, more than 75% of healthcare providers in North America use electronic records. Increasing healthcare spending and better healthcare amenities are some other macroeconomics factors driving global healthcare predictive analytics market size.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Cerner Corporation
By application, healthcare predictive analytics market can be segmented into operations management, financial, population health and clinical data. Predictive analytics software plays a key role in operations management wherein it deals with demand forecasting, work planning and inpatient and outpatient scheduling. Financial healthcare predictive analytics market is expected to dominate the market due to its growing acceptance in healthcare revenue cycle management among healthcare providers. Population health management is also likely to grow at a substantial rate over the forecast period.
Based on end-use, healthcare predictive analytics market can be segmented into healthcare payers, healthcare providers and others. Payers segment is likely to dominate the market comprising of insurance companies and health plan sponsors witnessing a lucrative growth from 2016 and 2024. Providers comprises of hospitals and clinics.
U.S. will drive regional healthcare predictive analytics market share in 2015. Electronic health record and integration of GPS enabled system with healthcare service should bolster regional market growth. Additionally, healthcare predictive analytics reduces operational cost by integrating vast amount of healthcare data across value chains thus containing healthcare spending. Presence of leading service providers such as IBM, SAS and Oracle in this region will stimulate industry growth.
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Latin America is anticipated to experience considerable growth opportunities owing to the increasing investments in life science sector. Though, region witnessed subdued growth in healthcare spending, increased government focus on improving public healthcare system and access to universal healthcare scheme in Brazil is likely to drive regional healthcare predictive analytics market size. Brazil healthcare predictive analytics market will dominate the region throughout the forecast period.
MEA healthcare predictive analytics market share may exhibit a moderate growth over the forecast period. Saudi Arabia and South Africa are key markets in MEA accounting for lucrative market growth opportunities. In Saudi Arabia, government organization accounts for over 65% of overall healthcare spending. Increasing private player’s presence would create growth opportunities in healthcare predictive analytics market space.
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